The merger of
Leucadia National Corporation
Jefferies Group, Inc.
), pending since November 11, 2012, received a green signal from
their respective shareholders in a meeting held on February 28,
2013. The merger will consummate on March 1, 2013.
As per the terms of the merger agreement, one common share of
Jefferies will be converted into 0.81 share of Leucadia's common
share. Leucadia already owns a 28.6% stake in Jefferies and
intends to issue approximately 117.7 million of its common shares
in exchange of Jefferies' share.
Following the completion of the merger, roughly 35.2% of
Leucadia's shares will be held by Jefferies' shareholders while
Jefferies will be converted into a limited liability company,
Jefferies Group LLC, which will become a wholly-owned subsidiary
Over the years, Leucadia has grown through acquisitions and
divestitures. Leucadia continuously evaluates the retention and
disposition of its existing operations and looks for
profitability and new acquisitions, especially assets and
companies that are in trouble so that those can be taken over and
made into a profitable deal. Jefferies' merger is likely to open
up more investment opportunities for Leucadia and be a long-term
Leucadia is engaged in beef processing, manufacturing, gaming
entertainment, real estate activities, medical product
development operations and various other investment-related
activities in the United States. Other major players in the
China Merchants Holdings (International) Company
Jardine Strategic Holdings Ltd
Koninklijke KPN N.V.
), each with a Zacks Rank #1 (Strong Buy).
CHINA MERCHANTS (CMHHY): Get Free Report
JEFFERIES GP-NW (JEF): Free Stock Analysis
JARDINE STRATEG (JSHLY): Get Free Report
KONIN KPN NV (KKPNF): Get Free Report
LEUCADIA NATL (LUK): Free Stock Analysis
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